Goldman, foreign funds bet worst is past for Tokyo office market

The last time foreign funds jumped into the Japanese property market around 2006 they snapped up assets from office blocks to hotels, fuelled by highly leveraged bank loans. Then came the global financial crisis and many of them got burnt.
Their appetite is starting to return. In Tokyo’s posh Meguro neighborhood, the 14-storey Meguro Place Tower that went up in 2009 was never intended to be a landmark. But a fund partly owned by a unit of Aviva Plc, Britain’s second-largest insurer, saw something eye-catching in its concrete-and-glass — a buy………………………………………..Full Article: Source